1480

LAWS OF MARYLAND

Ch. 246

STATEMENT, OR ANY OF THE DOCUMENTS CONTAINED IN THE
APPLICATION FOR REGISTRATION.

[(c)] (D) Following execution of a contract of sale by
a purchaser, the vendor may not amend any of the material
required to be furnished by subsection (a) without the
approval of the purchaser if the amendment would affect
materially the rights of the purchaser; provided that
approval is not required if the amendment is required by any
governmental authority or public utility. A copy of any
amendments shall be delivered promptly to [the] ANY
purchaser AND TO THE SECRETARY OF STATE.

[(d)] (E) Any purchaser may at any time (1) within 15
days following receipt of all of the information required
pursuant to subsection (b) and (2) within [five] 5 days
following receipt of the information required pursuant to
subsection [(c)] (D), rescind in writing the contract of
sale without stating any reason and without any liability on
his part, and he shall be entitled to the return of any
deposits made on account of the contract. ,

[(e)] (F) Any seller who, in disclosing the
information required pursuant to subsections (a) and (b),
makes any untrue statement of a material fact, or omits to
state a material fact necessary in order to make the
statements made, in the light of circumstances under which
they were made, not misleading, shall be liable to any
person purchasing a unit from him. However, [no] AN action
may NOT be maintained to enforce any liability created under
this section unless brought within [one] 1 year after the
facts constituting the cause of action are or should have
been discovered.

[(f)] (G) The rights of purchasers under this section
may not be waived in the contract of sale and any attempted
waiver is void. However, if any purchaser proceeds to
closing, his right under this section to rescind is
terminated.

[(g)] (H) The requirements of this section do not
apply to the sale of any unit which is to be occupied and
used for nonresidential purposes.

[(h)] (I) The requirements of this section shall apply
to the sale of any unit offered for sale in the State
without regard to the location of the condominium.

[(i) The notice referred to in subsection (a) shall be
sufficient for the purposes of this section if it is in
substantially the following form:

NOTICE

The seller is required by law to furnish to you certain
information concerning the condominium which is described in
§ 11-124 of the Maryland Condominium Act. This information